Are Entertainment Players the New Generation of Art Collectors?

Diddy, Jay Z, Madonna, Pharrell, and Leonardo DiCaprio—these are just some of the entertainment industry's most active art collectors. A recent article in The Hollywood Reporter breaks down the top 25 art collectors in the industry, including music stars, Hollywood celebrities, and big name producers. "There's a lot of people in the industry who have great taste who are being exposed to great art," producer and LACMA board member Steve Tisch toldThe Hollywood Reporter. "I know a number of collectors who have gotten into collecting in the past five or 10 years, and their passion for building their collection is fantastic."

In a market dominated by a small number of very powerful collectors, galleries are looking to big players in the entertainment industry to invest in art. These industry hotshots are serving on museum boards, donating money to art projects, and dropping hundreds of thousands of dollars on contemporary art.

"It's a convergence that was inevitable," writesThe Hollywood Reporter. "As the entertainment world's one percent have grown more sophisticated—and want the world (or at least their peers) to know it—the L.A. art world is on the rise, generating buzz in Hollywood's backyard."

With high-profile people like Kanye West taking a vested interest in art and design, this industry interest in the art world does not come as that much of a surprise. While Kanye doesn't make the cut, three other hip-hop stars appear on The Hollywood Reporter's list—Jay Z, Pharrell, and Diddy. These are the only people of color on the list, and they all come from the same part of the entertainment industry. It's not so shocking that the art market is turning to the entertainment industry for buyers (they are the people who can afford art, after all), but The Hollywood Reporter's list does appear to be skewed towards a certain demographic of entertainment professional.

Find out who The Hollywood Reporter names as the top 25 art collectors in the industry here.